Miton

Miton has said its multi-asset portfolios will continue to be positioned at the defensive end of the investment spectrum following the exit of manager Martin Gray.

US equity fund managers have begun cutting their exposure to technology stocks as the highly-rated sector falls out of favour with some investors following a long winning streak.

Investors should avoid income-paying trusts after the sector moved to trade on a premium for the first time since the financial crisis, analysts have warned, amid growing expectations interest rates could rise this year.

Miton has seen assets under management grow to £3bn mark in the year to 31 December following inflows and the acquisition of PSigma Asset Management.

Aberforth Partners co-founder David Warnock is to join Seneca Investment Managers as chairman.

Miton Group has agreed to sell its Liverpool-based funds business, Miton Capital Partners to Seneca Investment Managers in a £6m deal.

Nick Ford, manager of the Miton US Opportunities fund, has selected his top five quality US equities poised to benefit from the strong recovery in the world's largest economy and an improving environment for consumer and business spending.

Miton's Gervias Williams has been appointed co-manager of Bill Mott's PSigma Income fund as part of a reshuffle which sees Neil Cumming exit the group.

The most read story on Investment Week's website this week concerned outgoing fund manager Neil Woodford and how Invesco Perpetual is moving to protect investors in his funds.

Miton Asset Management is to soft-close the Miton UK Multi Cap Income fund at the end of the month following strong inflows.